Top Reasons to Change YOUR Property Manager

Top Reasons to Change YOUR Property Manager

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Top Reasons to Change YOUR Property Manager

Finding a premium service to care of your property is difficult. We  won’t beat around the bush, the possibility of finding a property manager who equally cares for you, your property and your tenants is a difficult one. It requires a property manager who cares for communication, who provides an expert opinion and is always on call.

For the property investors among you, you may have changed property managers once or twice. What was the reason? What was the deciding factor in finalizing your choice?

 

Usually, property investors change property managers for the following reasons:

 

Lack of communication and response time

 

 

Landlords need a constant stream of communication that guarantees them that all bills, maintenance and tenant satisfaction are being tended to. There is an assumption that property managers will return a call or email within 24 hours, making this one of the largest concerns as a property owner.

Property managers should be contacting the property owner in every cause for concern, not vice versa. If the situation exceeds the maximum limit of costs allowed by the property investor, the property manager should be prompt in their communication in order to fix the situation as quickly as possible.

 

Inexperienced Property Managers

 

 

Property Managers can be of all ages because there are no qualifications required. When contracting a property management company, it’s best to find a property manager who understands the trade and has experience in the industry.

 

The last thing you want is a property manager who has had little experience because this can lead to detrimental results in the long term. Find a company that has the long-term experience required; the company that has understanding of financial statements, law and all possible aspects of property investment.

 

Smaller organisations that have few staff fail to provide the quality you’d come to expect from a property management company. Additionally, the turnover rate for the industry is rather high due to workload; an organisation that prides itself on culture will instead show happier staff and provide an all-round superior service

 

 Unexpected Costs

 

 

Property Management costs can be in the range of anywhere from 6 – 12% per annum. Certain organisations may push you into the double digits with the assumption that quality will increase with price.

 

When analysing the market and finding the best company, it is recommended to examine the cost-benefit ratio as well as testimonials to truly determine if you’re getting what you pay for.

 

Additionally, you don’t assume to receive bills every few days that are subject to leaks or damages in the property. This correlates with communication errors, bills are no different and should be reviewed and passed to the owner early.

 

Lack of Maintenance

 

 

Property Managers have the most amount of contact with the tenants and the property, they will inspect the property every 90 days if they follow protocol. In order to maintain your investment, they will remind you of possible reparation and maintenance ideas to ensure that your property is receiving the maximum return that it can.

 

Property Managers should have a degree of trade skills to enlighten and inform the tenants of easy fix situations in the household. This eliminates the false call out fees for tradesmen – saving the property owners pockets.

 

Whilst a tenant is not expected to fix all maintenance themselves, it is important that they are offered some simple steps to try to alleviate the issue. Property Managers are employed to represent their clients best interest and it is important that this remains true for the entire working relationship.

 

All of these things are primary drivers behind the transition of property management firms, why? These are necessities for success! Quinovic Wellington Regional Property Management Specialists are the leaders in property management. When it comes to experience, we have over 30 years in the industry, with property managers who have seen it all. We’re a proven brand that you can trust.